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Beneficial Ownership Requirements for a Legal Entity

with
Doug Keipper
On-Demand
From $219.00
Training Includes:
  • All resources and training materials

BSA expert Doug Keipper will review the CDD Rule and the new requirements issued by FinCEN. You will learn the information you must collect and the procedures to follow to determine beneficial ownership.

Topics Covered

  • What is beneficial ownership?
  • How can you determine beneficial ownership?
  • What does the new Customer Due Diligence Beneficial Owner Rule require?
  • How should you modify your policies and procedures in your institution?
  • What decision points are needed?
  • Which customer types require frequent monitoring?

Training Overview

Do you know who really owns your business accounts? Discover the new customer due diligence requirements.

FinCEN issued the Customer Due Diligence (CDD) Rule on December 16, 2022 to amend existing BSA regulations for certain financial institutions. While following explicit customer due diligence requirements, you must identify and verify the identity of beneficial owners of legal entity customers.

You need to update your protocols for determining the ownership of all accounts, particularly for businesses, associations, trusts, and other organizations.

  • What is beneficial ownership?
  • How can you determine beneficial ownership?
  • What does the new Customer Due Diligence Beneficial Owner Rule require?
  • How should you modify your policies and procedures in your institution?
  • What decision points are needed?
  • Which customer types require frequent monitoring?

Who Should Attend?

  • BSA Officers
  • BSA Staff
  • CIP and Deposit Operations
  • Anti-Money Laundering Officers
  • Internal Auditors
  • Financial Officers
  • Front Line Staff
  • Risk Officers
  • Operational Managers
  • Branch Personnel
  • Training
  • Compliance
  • Staff with roles and responsibilities in BSA / AML management and oversight
  • Anyone who opens legal entity accounts
  • New Accounts Representative
  • Banking operations managers
  • Business operations managers
  • Payments directors
  • Compliance officers and managers
  • Risk management staff
  • Account managers
  • General counsel

Expert Presenter

Doug Keipper

  • Certified Anti-Money Laundering Specialist (CAMS) since 2005
  • Bank Secrecy Act Officer for a billion-dollar bank
  • Sold BSA software for eight years
  • Teaching anti-money laundering classes since 2008
  • Has talked with over 500 BSA officers throughout the USA and Caribbean
  • Spent over 20 years in retail banking, wholesale mortgages, and financial services

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